On Tuesday, the KLCI opened at above 1640 points, but since the KLCI was very closed to the 1647.94 resistance, profit taking was active, which prevented the KLCI from going higher and remain in its narrow range, as indicated by A. At the last minutes, some heavy weighted blue chips pulled the KLCI lower, due to heavy profit takings. At the close, the KLCI fell 8.31 points or 0.51% at 1631.12 points. For now, the 14, 21, 31 EMA is still serving as the dynamic support to the KLCI.

As indicated by B, total market volume gained 31.24%, with volume above the 40-day Volume Moving Average. However, with the KLCI falling, together with higher numbers or losers than gainers, the higher volume actually implies a higher selling pressure.

As indicated by C, the MACD histogram stopped rising, due the the sudden retreat of the KLCI. However, it has not formed a Rounding Top. If the MACD histogram should continue its uptick movement, it suggests that the short-term movement of the KLCI is basically still improving.

In conclusion, despite the KLCI last minute retreat, the KLCI is still above the 14, 21, 31 EMA, thus the immediate technical outlook is still positive. Although the KLCI has not been able to break above its resistance, and the upside room is still limited, it has not shown any weakness or bearish reversal. The KLCI could still consolidate further.